$23 million looted by former military ruler Sani Abacha to the United States will be returned to Nigeria, officials say after an agreement was signed on Tuesday.
Abacha died in 1998 after ruling Africa’s most populous nation and top oil exporter since 1993, it was estimated that the looted about $5 billion of public money and was never charged.
The cash was in UK accounts but was identified and frozen by US officials says US Ambassador Mary Beth, and also the US has agreed to repatriate more than $334.7 million linked to Abacha.
“The president’s mandate to my office is to ensure that all international recoveries are transparently invested and monitored by civil society organizations to compete for these three projects within the agreed timeline,” Malami.
The money looted by Abacha must be used for public projects or Nigeria will be forced to replace it, according to the US Justice Department.
More looted funds by Abacha had been secured by Nigeria and in 2017, the Swiss government released $321 million to the country after reaching an agreement with World Bank.
The released funds “will strengthen social security for the poorest sections of the Nigerian population,” the statement said at the time.
